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Tshisekedi re-elected as Congo DR President

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The Democratic Republic of Congo President, Felix Tshisekedi, was re-elected to a second term on December 20, receiving over 73% of the vote in a poll conducted by the nation’s election commission.

The announcement of the results comes after the opposition complained about the election’s procedures for several days. A dispute that threatens to further destabilise a country roughly the size of Western Europe, the world’s top producer of cobalt and other valuable industrial commodities, has been fuelled by logistical setbacks, an election day overrun, and an opaque vote count.

Denis Kadima, the head of the electoral commission, CENI, announced the results in the capital, Kinshasa. He stated that Tshisekedi had received more than 13 million of the more than 18 million valid votes cast and that more than 43% of voters had participated.

As Kadima declared Tshisekedi to be provisionally elected, the supporters of Tshisekedi, who had gathered, cheered. Tshisekedi, accompanied by his mother and wife, thanked supporters and pledged to expedite initiatives to address inequality during his second term of office in front of hundreds of people who had gathered at his campaign headquarters following the announcement.

“You believed in my commitment not to spare any effort so that our country will retake its rightful place, and so that the Congolese people will recover their pride and dignity in belonging to this country,” he said.

“You believed in my fight against inequalities that have for a long time characterized our society.”.

Rival candidate Moise Katumbi, who received 18% of the vote and finished second in the opposition, has already said that he will not file a lawsuit challenging the results, citing the purported lack of independence of state institutions. It is unclear from other opposition candidates’ statements whether they will contest the outcome.

Nine opposition presidential candidates, including Katumbi, and six political party leaders called on supporters to demonstrate in the streets following the announcement of the preliminary results earlier on Sunday.

“We categorically reject the sham election… and its results,” the main opposition candidates said in a joint declaration. They demanded fresh elections be held with a new electoral body on a date to be agreed by all.

“We call on our people to take to the streets en masse after the proclamation of the electoral fraud,” they said.

All elected members of the 26 provincial assemblies, the President, almost all members of the National Assembly, and, for the first time under the new constitution, a select group of commune (municipal) council members were chosen.

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Food prices drive second straight monthly hike in Nigeria’s inflation

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According to official statistics released on Friday, Nigeria’s inflation rate increased for the second consecutive month in October, rising to 33.88% in annual terms from 32.70% in September, mostly as a result of increasing food costs.

In an attempt to boost economic development and strengthen public finances, President Bola Tinubu devalued the naira and reduced subsidies, which caused inflation to spike in the second half of last year.

As the effects of the naira devaluation started to lessen in July of this year, a slew of hikes in the price of petroleum and devastating floods that destroyed crops once again exacerbated pricing pressures, making the greatest cost-of-living crisis in decades worse in Africa’s most populous country.

According to the National Bureau of Statistics, price increases for basics such as rice, maize, bread, potatoes, and cooking oil prompted food inflation to surge from 37.77% in October to 39.16% year over year.

This year, more than 1.5 million hectares of agriculture have been damaged by torrential rain and floods in 29 of Nigeria’s 36 states, leaving millions hungry and displacing large numbers of people.

In an effort to curb inflation, the central bank has raised interest rates five times this year. On November 26, it is expected to make its final rate decision of the year.

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MTN financial report reveals drop in group service revenue

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Due to operational difficulties in Sudan and the depreciation of the Nigerian naira, MTN Group, Africa’s largest telecom provider, announced on Thursday an 18.5% decline in service revenue for the third quarter that concluded on September 30.

With 288 million users in 17 African regions, MTN said that its group service revenue dropped from 156.3 billion rand ($6.99 billion) in the same quarter of the previous year to 127.4 billion rand.

Despite stating that “the naira was less volatile on a sequential basis in Q3 than in preceding quarters,” the business reported a 48.7% decline in MTN Nigeria’s income due to the currency’s depreciation.

Due to a stronger Ugandan shilling than the previous year, Uganda’s largest contributor, MTN South Africa (MTN SA), expanded by a meagre 3.3%.

Due to “subscriber registration regulations in Nigeria and a decline in users in Sudan, where the conflict has displaced millions of people,” the business reported that its subscriber base increased by 1.6% to 288 million.

Given the higher demand in Nigeria despite the legal obstacles, MTN plans to increase its capital expenditures, which it expects would total between 28 and 33 billion rand for the entire year.

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